Should I Buy or Should I Lease?

Buy vs. Lease

Buy vs. Lease

It’s finally time for you to ditch your old piece-of-junk car and upgrade to something new. You have done your research, started to look at makes and models you like, and finally decide on a new, sporty Mazda. Congrats! A long part of the new car process is over. Next you have to decide if buying or leasing your new car is right for you. Good thing Lancaster Mazda is here to help make that decision easier.

Benefits of Buying a Car

  • The car is all yours – you own it
  • No limit on how long you own a car
  • Only make payments until the car is paid off
  • No mileage restrictions – better for people who do a lot of driving
  • Free to customize the car however you’d like

Benefits of Leasing a Car

  • Lower down payments and affordable monthly payments
  • You only drive this make and model for a few years
  • Enjoy the newest models and high-tech features
  • Don’t have to worry about selling the car or getting a good trade-in price when you want to upgrade

Drawbacks of Buying a Car

  • It’s hard to predict what the car will be worth when you want to resell it or trade it in
  • Typically come with large down payments. The less you pay upfront, the more you pay later
  • Higher monthly loan payments

Drawbacks of Leasing a Car

  • You don’t own the vehicle and must return it at the end of your lease, unless you decide to purchase it
  • Lease contracts contain mileage restrictions that limit the number of miles you are allowed to drive per year. If you go over, you must pay per mile
  • When you rent the car for a few years, you don’t built up any equity

If you still aren’t sure which option is best for you, stop by Lancaster Mazda today. One of our sales members will be happy to sit with you and weigh the options. We want to ensure you drive home the perfect vehicle, for the best price, to fit your lifestyle. Stop by today!